Brookfield launches Lumara with $600 million investment, over 6 GW portfolio
Global investment firm Brookfield has launched Lumara, a new renewable energy development platform in India, backed by an investment of approximately $600 million.
Lumara will begin operations with a development portfolio exceeding 6 GW across solar, wind and battery energy storage system (BESS) projects.
According to Brookfield, the platform is intended to address several constraints affecting renewable energy project execution in India, including delays in finalising Power Purchase Agreements (PPAs), lengthy grid connectivity queues and extended land acquisition processes.
The investment in Lumara is being made through Brookfield’s Catalytic Transition Fund, which focuses on financing clean energy and energy transition projects across emerging markets.
India portfolio
Brookfield already has nearly 45 GW of wind and solar assets operational or under development across its investment platforms in India.
Across infrastructure, energy, real estate and private equity, the firm has invested more than $32 billion in the country.
Nawal Saini, Managing Partner and Head of Energy for South Asia and the Middle East at Brookfield, said India continues to rank among the world’s most attractive renewable energy markets, supported by robust electricity demand and the government’s target of installing 500 GW of renewable energy capacity by 2030.
Global portfolio
Globally, Brookfield’s renewable energy portfolio spans hydroelectric, solar, wind, battery storage, distributed generation, nuclear power and other sustainable energy technologies, with combined installed capacity of around 46 GW.
Its operational solar portfolio stands at approximately 14.2 GW, with another 129 GW under development. Brookfield also has 17.3 GW of wind capacity across North America, South America, Europe and Asia, along with an additional 44.3 GW in the development pipeline.
Beyond utility-scale generation, Brookfield operates distributed energy and energy storage businesses across multiple regions. Its distributed generation portfolio currently totals approximately 5.8 GW, while nearly 52.6 GW of additional capacity is under construction or at various stages of development.
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